v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 96,651 $ 49,774
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization of property and equipment 33,344 30,139
Amortization of intangible assets 2,427 2,399
Stock-based compensation expense 8,888 5,759
Deferred income taxes 2,743 347
Gain on sale of property and equipment (1,813) (1,701)
Other non-cash items 233 (180)
Changes in operating assets and liabilities:    
Accounts receivable, net (51,471) 55,665
Contract assets, net 15,634 (37,597)
Receivable for insurance claims in excess of deductibles 2,210 (742)
Other assets 6,397 4,737
Accounts payable 26,218 11,133
Contract liabilities, net (54,094) (41,086)
Accrued self-insurance (907) 872
Other liabilities 1,614 36,628
Net cash flows provided by operating activities 88,074 116,147
Cash flows from investing activities:    
Proceeds from sale of property and equipment 2,370 3,726
Purchases of property and equipment (45,048) (34,289)
Net cash flows used in investing activities (42,678) (30,563)
Cash flows from financing activities:    
Borrowings under revolving lines of credit 48,003 488,553
Repayments under revolving lines of credit (95,417) (474,695)
Payment of principal obligations under equipment notes (2,251) (2,158)
Payment of principal obligations under finance leases (396) (568)
Repurchase of common stock 0 (75,000)
Payments related to tax withholding for stock-based compensation (7,294) (2,653)
Net cash flows used in financing activities (57,355) (66,521)
Effect of exchange rate changes on cash (325) 429
Net increase (decrease) in cash and cash equivalents (12,284) 19,492
Cash and cash equivalents:    
Beginning of period 150,156 3,464
End of period $ 137,872 $ 22,956